The Foster Closet Corp
EIN: 262931033 · Jacksonville, FL · NTEE: P60
| Metric | Value |
|---|---|
| Total Revenue | $643K |
| Total Expenses | $586K |
| Net Assets | $447K |
Is The Foster Closet Corp Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About The Foster Closet Corp
The Foster Closet Corp (EIN: 262931033) is a nonprofit organization based in Jacksonville, FL, classified under NTEE code P60. The organization reported total revenue of $643K and total assets of $507K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Foster Closet Corp's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Foster Closet Corp is a small nonprofit that has been operating for 17 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 21.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $643K |
| Total Expenses | $586K |
| Surplus / Deficit | +$57K |
| Total Assets | $507K |
| Total Liabilities | $60K |
| Net Assets | $447K |
| Operating Margin | 8.9% |
| Debt-to-Asset Ratio | 11.8% |
| Months of Reserves | 10.4 months |
Financial Health Grade: A
In 2023, The Foster Closet Corp reported a surplus of $57K with revenue exceeding expenses, holds 10.4 months of operating reserves (strong position), has a debt-to-asset ratio of 11.8% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), The Foster Closet Corp's revenue has grown at a compound annual growth rate (CAGR) of 21.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +33.9% | +25.8% | +8.9% |
| 2022 | +29.1% | +21.2% | +3.7% |
| 2021 | -34.1% | -25.2% | -0.1% |
| 2020 | -7.9% | +12.3% | +40.0% |
| 2019 | +307.8% | +201.0% | +801.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for The Foster Closet Corp has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates The Foster Closet Corp with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $57K, with revenue exceeding expenses.
- Debt-to-asset ratio: 11.8%.
Frequently Asked Questions about The Foster Closet Corp
Is The Foster Closet Corp a legitimate charity?
The Foster Closet Corp (EIN: 262931033) is a registered tax-exempt nonprofit based in Florida. It has 13 years of IRS 990 filings on record. Total revenue: $643K. No red flags identified. Financial health grade: A.
How does The Foster Closet Corp spend its money?
The Foster Closet Corp reported $643K in total revenue in IRS 990 filings. 13 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to The Foster Closet Corp tax-deductible?
The Foster Closet Corp is registered as a tax-exempt nonprofit (EIN: 262931033). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is The Foster Closet Corp located?
The Foster Closet Corp is headquartered in Jacksonville, Florida and files with the IRS under EIN 262931033. It is classified under NTEE code P60.
How many years of IRS 990 filings does The Foster Closet Corp have?
The Foster Closet Corp has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $643K in total revenue.
Filing History
IRS 990 filing history for The Foster Closet Corp showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), The Foster Closet Corp's revenue has grown by 977.4%, moving from $60K to $643K. Total assets increased by 6178% over the same period, from $8K to $507K. Total functional expenses rose by 1034.8%, from $52K to $586K. In its most recent filing year (2023), The Foster Closet Corp reported a surplus of $57K, with revenue exceeding expenses. The organization holds $60K in liabilities against $507K in assets (debt-to-asset ratio: 11.8%), resulting in net assets of $447K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $643K | $586K | $507K | $60K | — | — |
| 2022 | $480K | $466K | $466K | $76K | — | View 990 |
| 2021 | $372K | $384K | $449K | $96K | — | View 990 |
| 2020 | $565K | $514K | $449K | $84K | — | View 990 |
| 2019 | $614K | $458K | $321K | $2K | — | View 990 |
| 2018 | $150K | $152K | $36K | $0 | — | View 990 |
| 2017 | $0 | $0 | $1 | $0 | — | View 990 |
| 2016 | $129K | $115K | $36K | $478 | — | View 990 |
| 2015 | $92K | $111K | $21K | $0 | — | View 990 |
| 2014 | $93K | $80K | $40K | $0 | — | View 990 |
| 2013 | $106K | $96K | $26K | $0 | — | View 990 |
| 2012 | $58K | $49K | $17K | $0 | — | View 990 |
| 2011 | $60K | $52K | $8K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $643K, expenses of $586K, and assets of $507K (revenue +33.9% year-over-year).
- 2022: Revenue of $480K, expenses of $466K, and assets of $466K (revenue +29.1% year-over-year).
- 2021: Revenue of $372K, expenses of $384K, and assets of $449K (revenue -34.1% year-over-year).
- 2020: Revenue of $565K, expenses of $514K, and assets of $449K (revenue -7.9% year-over-year).
- 2019: Revenue of $614K, expenses of $458K, and assets of $321K (revenue +307.8% year-over-year).
- 2018: Revenue of $150K, expenses of $152K, and assets of $36K.
- 2017: Revenue of $0, expenses of $0, and assets of $1 (revenue -100.0% year-over-year).
- 2016: Revenue of $129K, expenses of $115K, and assets of $36K (revenue +40.2% year-over-year).
- 2015: Revenue of $92K, expenses of $111K, and assets of $21K (revenue -1.3% year-over-year).
- 2014: Revenue of $93K, expenses of $80K, and assets of $40K (revenue -12.1% year-over-year).
- 2013: Revenue of $106K, expenses of $96K, and assets of $26K (revenue +83.3% year-over-year).
- 2012: Revenue of $58K, expenses of $49K, and assets of $17K (revenue -3.2% year-over-year).
- 2011: Revenue of $60K, expenses of $52K, and assets of $8K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Foster Closet Corp:
Data Sources and Methodology
This transparency report for The Foster Closet Corp is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.